How is the outstanding balance reported in QuickBooks?

The outstanding balance, particularly in the context of what is owed to you or what you owe, is accurately reported in the Accounts Receivable Aging report. This report provides a detailed breakdown of all amounts that are still outstanding from customers, categorizing them based on how long they have been due. It helps businesses track overdue invoices and manage cash flow by giving a clear view of uncollected revenue.

This report is crucial for maintaining financial health as it allows businesses to follow up with customers on overdue payments. While other reports like the Accounts Payable reports or Profit and Loss statements provide valuable financial insights, they serve different purposes and do not specifically categorize outstanding customer balances in the same manner as the Accounts Receivable Aging report. The Cash Flow report gives an overview of cash movement rather than detailing specific outstanding balances.